NUMBER OF THE DAY
This is how much India is investing in domestic rare-earth magnet production.
🧲 Magnet offensive: With the 72.8-billion-rupee program, Delhi plans to build five plants within three years, each with 1,200 tons of annual capacity. The goal is to close the gap in high-end magnets, which today come almost entirely from China.
🏭 Rare, but indispensable: The program runs for seven years and supports fully integrated factories from ore to magnet. Rare earths and semiconductors are seen by the government as a “non-negotiable” foundation for any industry.
Watch: India is positioning itself in the geopolitical key league of critical raw materials. Permanent magnets are essential for EVs, wind turbines, robots, and weapons systems. If the build-out succeeds, New Delhi could absorb part of the West’s dependence on China for strategic materials.
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